BrightView (NYSE:BV) Stock Price Down 5.4% – Here’s Why

BrightView Holdings, Inc. (NYSE:BV)’s stock price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $14.29 and last traded at $15.22. 61,012 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 409,849 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

A number of research firms recently commented on BV. Robert W. Baird lifted their price target on BrightView from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their target price on BrightView from $11.30 to $12.90 and gave the stock a “sell” rating in a research note on Friday, November 15th. Loop Capital increased their price target on BrightView from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BTIG Research assumed coverage on shares of BrightView in a research report on Monday, December 2nd. They set a “buy” rating and a $22.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of BrightView from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.11.

BrightView Stock Down 2.9 %

The stock has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $15.87. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 81.11 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 1.43 and a debt-to-equity ratio of 0.63.

BrightView (NYSE:BV) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. BrightView had a net margin of 2.64% and a return on equity of 7.86%. The business had revenue of $728.70 million during the quarter, compared to analysts’ expectations of $723.01 million. During the same quarter in the previous year, the company earned $0.14 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts expect that BrightView Holdings, Inc. will post 0.75 EPS for the current year.

Insider Activity at BrightView

In related news, EVP Jonathan Mark Gottsegen sold 29,658 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $16.06, for a total value of $476,307.48. Following the completion of the transaction, the executive vice president now owns 100,354 shares of the company’s stock, valued at $1,611,685.24. The trade was a 22.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BrightView

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in shares of BrightView by 1.0% during the 4th quarter. Rhumbline Advisers now owns 82,520 shares of the company’s stock worth $1,319,000 after buying an additional 831 shares in the last quarter. BNP Paribas Financial Markets grew its position in BrightView by 4.6% in the third quarter. BNP Paribas Financial Markets now owns 24,184 shares of the company’s stock valued at $381,000 after acquiring an additional 1,056 shares during the last quarter. New York State Teachers Retirement System raised its stake in BrightView by 32.1% during the fourth quarter. New York State Teachers Retirement System now owns 5,326 shares of the company’s stock worth $85,000 after acquiring an additional 1,293 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of BrightView by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 17,896 shares of the company’s stock worth $238,000 after acquiring an additional 1,431 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of BrightView by 7.0% in the 3rd quarter. Creative Planning now owns 24,019 shares of the company’s stock valued at $378,000 after purchasing an additional 1,564 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

About BrightView

BrightView Holdings, Inc, through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services. The Maintenance Services segment delivers a suite of recurring commercial landscaping services, including mowing, gardening, mulching and snow removal, water management, irrigation maintenance, tree care, golf course maintenance, and specialty turf maintenance.